JOJO Exchange Integrates Chainlink Data Streams

JOJO Exchange, a decentralized exchange (DEX) for perpetual futures on the Base network, has implemented Chainlink Data Streams as its oracle solution, as announced in a press release on Thursday.

The exchange highlighted Chainlink’s infrastructure, sub-second price latency, and high data accuracy as critical factors for the integration. Additionally, the use of liquidity-weighted bid-ask spreads and a focus on transparency and decentralization were important considerations.

“Chainlink Data Streams delivers ultra low-latency bid and ask data to power the JOJO protocol, allowing us to provide an advanced user experience while ensuring a robust risk framework that ultimately helps safeguard the protocol,” said JOJO founder Jotaro.

William Reilly, Global Head of Strategic Partners at Chainlink Labs, emphasized that leveraging industry-standard Chainlink data helps ensure unparalleled security for liquidations on JOJO’s platform, contributing to a seamless and ultra-fast DeFi user experience.

JOJO’s implementation of smart contract orders, combined with Chainlink Data Streams, facilitates programmable and automated trading, enabling users to enter positions automatically at predetermined prices.

JOJO Exchange offers up to 1,000 times leverage, matches smart contract orders off-chain, and settles them on-chain for enhanced efficiency. The platform also allows for the use of liquid staking tokens (LST) and liquid restaking tokens (LRT) as collateral.